Principal Financial Group Inc. Takes $875,000 Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Principal Financial Group Inc. acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,755 shares of the company’s stock, valued at approximately $875,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC boosted its stake in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after purchasing an additional 500 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Harbor Capital Advisors Inc. boosted its position in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after acquiring an additional 691 shares during the last quarter. Park Place Capital Corp acquired a new stake in Alkami Technology during the third quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its stake in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,239 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total transaction of $199,186.78. Following the sale, the insider now directly owns 248,585 shares in the company, valued at approximately $9,451,201.70. This trade represents a 2.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 99,755 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now owns 371,648 shares of the company’s stock, valued at approximately $15,568,334.72. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,417,380 shares of company stock worth $248,273,935. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Trading Up 1.7 %

Shares of ALKT stock opened at $37.53 on Friday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The firm’s 50 day moving average price is $38.46 and its two-hundred day moving average price is $34.09. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -79.85 and a beta of 0.46.

Analyst Upgrades and Downgrades

ALKT has been the topic of several analyst reports. JMP Securities raised their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Barclays raised their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.